Latest News:  


China cuts bank card charges for businesses


09:03, January 22, 2013

BEIJING, Jan. 21 (Xinhua) -- The government said Monday it will lower bank card charges for businesses ranging from retailers to property developers in order to reduce their burdens and boost consumption.

The move will take effect on Feb. 25 as part of government efforts to bring distribution costs down and expand domestic demand, according to a statement issued by the National Development and Reform Commission (NDRC), the country's top economic planner.

The cuts will save Chinese businesses about 4 billion yuan (637 million U.S. dollars) a year, an NDRC official said.

Under the new charging scheme, service fees paid by catering enterprises to banks for card transactions will go down by 35.7 percent, while those paid by department stores and supermarkets will decrease 21.4 percent and 25.7 percent, respectively, said the official, who declined to be identified.

Service fees charged by card payment network operators for catering businesses will drop 35 percent and those for department stores and supermarkets will both fall 20 percent, the official said.

Other types of businesses that will benefit from the policy include hotels, jewelry shops, property developers, automobile merchandisers, tourist agencies and gas stations.

Bank service fees for restaurants will be collected at a standard rate of 0.9 percent after the adjustment and the rate for payment network service fees will stand at 0.13 percent, the NDRC said in the statement.

【1】 【2】

We recommend:

Online turnover surpasses 1 trillion yuan in 2012

Jack Ma to step down as Alibaba CEO

FDI sees 1st decrease in 9 years amid slowdown

China helps drive Rolls to record year

Top Ten Economic Events in 2012

CIC seeks balanced portfolio


Leave your comment0 comments

  1. Name


Selections for you

  1. WZ-8 armed helicopters in training

  2. UN's equipment verification

  3. Unforgettable moments you cannot miss in Jan.

  4. China’s weekly story (2013.01.09-01.19)

  5. SW China mine accident kills 5

  6. Lanterns fly from low to high

  7. Characters of 'Journey to the West'

  8. Chinese animation films getting stronger

  9. Most transparent multinationals

  10. Elegant beauties in your eyes

Most Popular


  1. Happy Indian mentality keeps on rising
  2. Consumption cannot be only driver
  3. China to stick to own path in maritime exploration
  4. Learning the language of affection
  5. Don't buy a house before 35 years old?
  6. Anti-pollution plan gets mixed reviews
  7. Emotional abuse to child cannot be neglected
  8. US' dangerous stance
  9. What election means to Israel
  10. Beijing economy expected to grow

What’s happening in China

How is living in Beijing on monthly income of 10,000 yuan?

  1. Database gives hope to abducted children
  2. Beijing population tops 20.69 mln
  3. China to enforce first privacy protection standard
  4. 'One day, wolves may attack humans'
  5. Website launched to promote drug control